Mumbai Dec 30 (IANS) Public sector lender Bank of India on Saturday said it has received a capital infusion Rs 2 257 crore from the government.
"The bank has on December 29 received an infusion of Rs 2 257 crore from Government of India in form of common equity tier-1 capital which is being kept as share application money and would be alloted after due procedure/conditions for allotment " the bank said in a regulatory filing to the BSE.
On October 24 the government had approved a recapitalisation plan for strengthening NPA-hit state-run banks to a tune of Rs 2.11 lakh crore.
"The infusion is in terms of the Ministry of Finance Department of Financial Services Government of India " the BSE filing added.
On Friday the scrips of the bank closed lower by 0.24 per cent at Rs 169.70 per share on the BSE.
--IANS
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